Voya Investment Management LLC Has $21.74 Million Holdings in Elbit Systems Ltd. $ESLT

Key Points

• Voya Investment Management LLC increased its stake in Elbit Systems Ltd. by 34.3% during Q1, now holding 56,847 shares valued at approximately $21.7 million.
• Elbit Systems recently reported quarterly earnings of $3.23 per share, exceeding estimates, alongside a revenue of $1.97 billion.
• The company has declared a new quarterly dividend of $0.75 per share, representing an increase from the previous dividend of $0.60, with a dividend yield of 0.6%.

Voya Investment Management LLC lifted its stake in Elbit Systems Ltd. (NASDAQ:ESLT - Free Report) by 34.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,847 shares of the aerospace company's stock after buying an additional 14,528 shares during the period. Voya Investment Management LLC owned about 0.13% of Elbit Systems worth $21,735,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Elbit Systems by 0.3% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,357,148 shares of the aerospace company's stock worth $520,189,000 after buying an additional 4,248 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Elbit Systems by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 889,904 shares of the aerospace company's stock valued at $341,276,000 after buying an additional 15,552 shares during the period. Y.D. More Investments Ltd increased its stake in shares of Elbit Systems by 0.6% in the 1st quarter. Y.D. More Investments Ltd now owns 452,288 shares of the aerospace company's stock valued at $173,349,000 after buying an additional 2,541 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Elbit Systems by 33.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 135,106 shares of the aerospace company's stock worth $51,837,000 after purchasing an additional 34,049 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Elbit Systems by 61.2% in the 1st quarter. Deutsche Bank AG now owns 117,083 shares of the aerospace company's stock worth $44,922,000 after purchasing an additional 44,459 shares during the last quarter. 17.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ESLT shares. Wall Street Zen raised Elbit Systems from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America boosted their target price on Elbit Systems from $500.00 to $540.00 and gave the company a "buy" rating in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Elbit Systems currently has a consensus rating of "Buy" and a consensus price target of $540.00.

Elbit Systems Stock Down 0.5%

Shares of Elbit Systems stock traded down $2.66 during trading on Friday, reaching $487.97. The stock had a trading volume of 83,278 shares, compared to its average volume of 110,607. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 55.39, a P/E/G ratio of 1.74 and a beta of 0.37. The stock has a fifty day moving average price of $468.69 and a two-hundred day moving average price of $425.93. Elbit Systems Ltd. has a 52 week low of $189.94 and a 52 week high of $510.58. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.06.

Elbit Systems (NASDAQ:ESLT - Get Free Report) last released its earnings results on Wednesday, August 13th. The aerospace company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.57 by $0.66. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.89 billion. Elbit Systems had a return on equity of 14.29% and a net margin of 5.35%.During the same quarter in the previous year, the business earned $2.08 earnings per share. Sell-side analysts predict that Elbit Systems Ltd. will post 8.05 EPS for the current fiscal year.

Elbit Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 27th. Shareholders of record on Tuesday, October 14th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 0.6%. This is a boost from Elbit Systems's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Tuesday, October 14th. Elbit Systems's dividend payout ratio (DPR) is presently 22.70%.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.